Trina Solar (TSL) provided guidance for this quarter, next quarter and the full year 2009 after the bell today.
For the 2nd quarter, the company narrowed its shipment estimate from 60 – 65MW to 63 – 65MW. The company expects revenues in the range of $148 – 152 million, a 25% haircut from the year ago quarter.
For next quarter, the company expects to bump up shipments to 90 – 110MW and expects the full … Read the rest
The Chinese government just announced it will offer significant new subsidies to solar power manufacturers. According to Reuters, the government will cover 50 percent of investments for solar power projects and necessary power transmission and distribution projects. There are some qualifications for companies to receive the subsidy: The projects must generate at least 300 KW at peak power, must be maintained for 20 years and must be completed in a year. PV systems installed in … Read the rest
According to StreetInsider.com, both Trina Solar (TSL) and Yingli Green Energy (YGE) are being downgraded today by Hapoalim Securities
YGE gets a downgrade from from Buy to Hold and a lower price target at $8 due to oversupply, inflated inflated valuations, high expectations priced in and limited US/China demand this year. Considering all the financing and stimulus packages coming out of China, I’m surprised they would be cautious on China demand. I think the … Read the rest
Trina Solar just announced that it received $57 million worth of new credit facilities from China’s Standard Chartered Bank. The funding will help the company buy more raw materials and provide a buffer against foreign exchange risks. This brings Trina Solar’s total available credit up to $520 million from approximately $460 million.
In a company press release, Terry Wang, Trina Solar’s CFO, commented on the news:
“The credit facilities offer us greater flexibility to strengthen … Read the rest
Trina Solar (TSL) is announcing that it in the 2nd quarter it will soon begin shipping 15MW of solar PV modules to Belgium solar project specialist Efinity.
“We are very pleased to announce this new sales agreement with Enfinity, to further strengthen the existing well established partnership with Enfinity. This new contract will significantly help to grow new projects in markets such as Germany, Belgium, Italy and other European solar markets,” stated Mr. Arturo … Read the rest
Leave it up to a Chinese company to create jobs on US soil. I mentioned the Sunpower plans to outsource manufacturing to Jabil Circuit with operations in Mexico earlier. Trina Solar (TSL), a Chinese solar manufacturer is announcing expansion plans of its own as it continues to push into the US market, but unlike Sunpower, Trina will set up manufacturing in the US at the Port of Oakland this month in order to get product … Read the rest
Trina Solar (TSL) is surging another 7% this morning after the company posted a profit of .33/share (taking out one time costs) vs the expectations of a .05 loss. Revenues were a bit lighter than expected, but still 9% above the year ago quarter, so certainly better results out of Trina then what we’ve seen from most of its competitors (with the exception of First Solar).
The company had expected solar module shipments of 50 … Read the rest
Hat tip to StreetInsider.com for this alert today:
Collins Stewart doubled its price target on Trina Solar (TSL) from $11 to $22 and maintained its Buy rating saying, “A combination of factors drives the adjustment to our price target. Since we launched coverage, the prospect for China to become a significant consumer of solar modules has improved, as a limited solar subsidy program has been announced and more are expected in the months ahead. Valuations … Read the rest
Trina Solar (TSL) is announcing 3 new sales agreements with (yet unnamed with the exception of Bull Solar for 12MW) customers in Germany for delivery this year and totaling 42MW which is about 20% of what the company delivered all of last year so a decent sized order.
“We are pleased to see continued demand growth from traditional markets such as Germany,” said Arturo Herrero, Trina Solar’s Vice President of Sales & Marketing. “With our … Read the rest
Trina Solar (TSL) announced today the completion of a 4.7MW solar energy facility developed by Ergy Capital at the end of February in which Trina was the supplier of the PV modules used in the rooftop installation. The project in the town of Serravelle Scrivia is currently the largest single mounted rooftop solar system in Italy, using about 38K square meters of solar panels and generating around 5 GW/hour of electricity per year.
“We are … Read the rest